Rand Paul, You Failed Econ 101. Supply, Demand and the Minimum Wage

Two decades ago, both coffee and water were virtually free. Starbucks raised the price of coffee dramatically, leading to every main street and corner in America offering Starbucks coffee at $2 or more per cup. Now you need to go to a government-subsidized McDonald’s or Walmart to get a cup of coffee for a buck. Over the same time period, pricey water in little bottles became ubiquitous.

I see no reason to believe that Senator Paul is actually concerned about unemployment when he opposes increases in the minimum wage. It’s just the best counter argument he has laying around.